Join        Login             Stock Quote

Abaxis (ABAX) "Trading Transparency"

 February 04, 2008 05:15 AM

Earlier today I sold my 180 shares of Abaxis (ABAX) at $31.2754/share.  I did this on the weakness of the stock and some fundamental news that disappointed.  These shares were purchased 10/25/07 at a cost basis of $28.29, so I had a gain of $2.99 or 9.5% since purchase.  This was actually my second sale of Abaxis--30 shares were sold 12/11/07 at $36.37 for a gain of $8.08 or 28.6% since purchase.

Abaxis (ABAX) closed at $30.00, down $(2.55) or (7.83)% on the day.

With a single partial sale at the 30% appreciation level, I generally would allow a stock to decline to 'break-even' before bailing.  But the stock appeared to be acting rather sick the last few days and with the stock trading sharply lower on a earnings report that disappointed, and with me a nervous nellie with still some margin balance on the books, I thought it was time to part company.

[Related -Deceptively Negative Day]

As noted, ABAX reported 4th quarter results after the close of trading yesterday.  They came in with revenue of $25.7 million (under the $26.5 million expected by analysts according to Thomson Financial) and earnings of $3.2 million or $.14/share (under the $.16/share expected).  The disappointment took its toll on the stock and weakness ensued.

The 'point & figure' chart from StockCharts.com doesn't really look that bad.  The long-term rise in the price appears intact. 

[Related -Stock Market Opening Report - July 19, 2012]

Thanks so much for visiting.  I have my portfolio management rules but I also reserve the right to sell stocks when something 'fundamental' is announced, like a 'miss' in the earnings.  With the market and me both quite skittish and volatile, I chose cash over equities and didn't want to see my gains continue to disappear.  I hope it was the right decision!

With the Morningstar.com report intact, the chart looking essentially intact, but the company missing expectations, I sold the stock and


iOnTheMarket Premium


Comments Closed

rss feed

Latest Stories

article imageGermany Is On The Rebound - Time To Buy?

Based on this year's 17% spike in the Stoxx Europe 600 Index, it seems investors have found a home in read on...

article imageIs Drought Risk In The American West An Economic Threat?

The historic and ongoing drought in California is getting harder to ignore in terms of its potential impact read on...

article imageFunds Behaving Badly

Discipline is still the key to read on...

article imageGenuine Parts Co. (GPC): This Company's Raised Dividends For 59 Years

There are 253 million cars and trucks driving along U.S. roads. And the average age of those automobiles is read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.